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Chapter 13 bankruptcy, also known as reorganization bankruptcy, is a legal process that allows you to restructure debt to be more manageable. As part of the process, you will be required to pay ...
Patrick C. Shea is an attorney in California. He was the federal court-appointed attorney that represented 170-plus municipal entities [1] with investments of over $5 billion in the Orange County, California, Chapter 9 bankruptcy. [2] On December 6, 1994, the County of Orange declared Chapter 9 bankruptcy, from which it emerged in June 1995.
Attorneys who dabble in a little of everything are likely not aware of the granular aspects of bankruptcy law or up to speed with the latest legal developments in this area of practice.
Accounting staffers within the Trustee's office review all debtor filings, and monitor trustee and attorney fees in all cases. Attorneys employed by the Trustee represent the office in United States bankruptcy court and pursue civil sanctions for some egregious violations of the law in Chapter 7, 12 and 13 cases.
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
You should get a refund if you paid your attorney an upfront fee for the service of preparing your file for Chapter 13 bankruptcy (or as an advance against hours worked) and the attorney didn’t ...
The automatic stay in bankruptcy is the result of Section 362 of the Bankruptcy Code that requires all collection proceedings to stop. There are exceptions, of course, but generally this is the term for the "relief" from collection proceedings a debtor receives by filing the bankruptcy with the bankruptcy clerk's office.
Key takeaways. There is no minimum amount of debt required to file for bankruptcy. Because of legal fees and long-term financial consequences, it may not be worth filing with less than $10,000 in ...